My brother-in-law has become interested in Bitcoin recently, but I had no idea what to get him for his birthday. I didn't want to have to explain complicated Bitcoin stuff during the birthday dinner.
I came across gift "bearer" cards for Bitcoin. They are essentially cards that contain a private key tied to a set amount of Bitcoin. The gift recipient can access Bitcoin from the card when they want.
- I would be surprised if any of you have done this before. I have a few questions: Is it easy for the gift recipient to access the Bitcoin?
- Is the Bitcoin on the card truly safe?
- Do you have any bad stories about it?
I prefer gift cards over simply giving cash to someone. However, I am very hesitant about something that appears so simplistically designed in the crypto world. I want to know if this is the real deal or if this is just a promotional gimmick.
Anyone actually given crypto as a physical gift? How did it go?
byu/Satochip inBitcoin
Posted by Satochip
6 Comments
I think you should just make them a paper wallet
I gave a quarter to my mom’s newly created bitty account a while ago. It’s more than $300 today lol, so now I consider that a gift 🙂
Seems like a great idea!! I wish I had a friend to send one to 🙁
Coinkite makes a couple of options, the Open Dime and the SatsCard. I gave my niece and nephew each a SatsCard loaded with $100 worth of BTC last Christmas. Went smoothly. I had previously given them Bitcoin on a Trezor One for each so this year I installed a Nunchuk watch-only wallet on their phones so they could generate addresses without needing to plug in their hardware wallets. The SatsCards are cool because they are reusable. Once I helped them sweep the funds to their wallets I repossessed the cards and I can load them up and regift again. Each card comes with 10 slots. Once you send funds and then sweep them off, one of the slots gets “burned” and the next slot is associated with a different key. Sounds complicated but it really isn’t.
https://satscard.com/
You should checkout r/CryptoCollectibles – there are a lot of examples of loadable physical Bitcoin/crypto items over there.
One item I would highly recommend to give to a beginner would be a Ballet product, they make both loadable cards & coins. Also, their App is very easy to use and makes tracking your funds very simple.
http://www.ballet.com
The problem is also if you buy him bitcoin and make him a wallet . Your eyes have seen the private key. Some things are best left to people who want it. Don’t try to force crypto on people who aren’t ready. 99% of the population is stupid AF not saying he is but in general